Afya (NASDAQ:AFYA) Shares Down 3.6% - Here's What Happened

Afya Limited (NASDAQ:AFYA - Get Free Report)'s share price dropped 3.6% during mid-day trading on Friday . The stock traded as low as $15.06 and last traded at $15.06. Approximately 40,988 shares changed hands during trading, a decline of 22% from the average daily volume of 52,670 shares. The stock had previously closed at $15.63.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group assumed coverage on shares of Afya in a research report on Tuesday, December 3rd. They issued a "sell" rating and a $16.00 price target on the stock.

Afya Trading Down 4.0 %

The firm has a 50-day moving average of $16.37 and a 200 day moving average of $16.89. The company has a market cap of $1.41 billion, a P/E ratio of 12.10, a price-to-earnings-growth ratio of 0.33 and a beta of 0.89. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.51.

Hedge Funds Weigh In On Afya

A number of institutional investors and hedge funds have recently modified their holdings of the business. Lifestyle Asset Management Inc. grew its stake in shares of Afya by 13.3% in the 3rd quarter. Lifestyle Asset Management Inc. now owns 16,753 shares of the company's stock valued at $286,000 after buying an additional 1,969 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in Afya in the third quarter valued at approximately $34,000. Quarry LP bought a new stake in shares of Afya during the third quarter valued at approximately $75,000. Quantbot Technologies LP raised its position in shares of Afya by 73.8% during the third quarter. Quantbot Technologies LP now owns 13,268 shares of the company's stock worth $226,000 after purchasing an additional 5,636 shares during the period. Finally, Centiva Capital LP acquired a new position in shares of Afya during the third quarter worth approximately $213,000. 88.02% of the stock is currently owned by institutional investors.

Afya Company Profile

Afya Limited, through its subsidiaries, operates as a medical education group in Brazil. The company operates through three segments: Undergrad, Continuing Education, and Digital Services. It offers educational products and services, including medical schools, medical residency preparatory courses, graduate courses, and other programs to lifelong medical learners enrolled across its distribution network, as well as to third-party medical schools.